APPRAISAL INSTITUTE EDUCATION AND RELIEF FOUNDATION

EIN: 366076334 501(c)(3) Education

CHICAGO, IL

Total Revenue
$266,196
Total Expenses
$390,453
Total Assets
$7,725,512
Net Assets
$7,717,181
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1963
Legal Domicile
IL
Principal Officer
ELIZABETH KRAMER
Phone
3123354133
Tax Period
2023-01-01 to 2023-12-31

APPRAISAL INSTITUTE EDUCATION AND RELIEF FOUNDATION, founded in 1963, is a small nonprofit in the Education sector that reported $266K in total revenue in fiscal year 2023. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $390K exceeded revenue, resulting in a 47% operating deficit.

Mission

PROVIDE FUNDS FOR SCHOLARSHIPS, INTERNSHIPS, GRANTS, AND AWARDS TO QUALIFIED INDIVIDUALS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $75,212
Program Service Revenue $0
Investment Income $190,984
Other Revenue $0
TOTAL REVENUE $266,196

Expense Breakdown

Grants Paid $186,085
Salaries & Benefits $0
Fundraising Expenses $19,193
Program Expenses $332,271
Other Expenses $204,368
TOTAL EXPENSES $390,453

Year-over-Year Comparison

2023 2022 Change
Revenue $266,196 $489,116 -0.5%
Expenses $390,453 $343,891 +0.1%
Net Income $-124,257 $145,225 -1.9%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
13
Independent Members
13
Employees
N/A
Volunteers
13

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$811,991
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SARA BAKER MAI SRA CHAIR 1.00
Officer Director
$0 $0 $0
KELLI KLINE MAYHEW MAI SRA VICE CHAIR 1.00
Officer Director
$0 $0 $0
CLAIRE M AUFRANCE MAI SRA TRUSTEE 1.00
Director
$0 $0 $0
MARI CARLSON MAI AI-GRS TRUSTEE 1.00
Director
$0 $0 $0
DALE COOPER MAI SRA AI-GRS, AI-RRS; TRUSTEE 1.00
Director
$0 $0 $0
CHARLES M DARLING SRA TRUSTEE 1.00
Director
$0 $0 $0
RICHARD DEVERDIER MAI SRA AI-GRS; TRUSTEE 1.00
Director
$0 $0 $0
SHARON HARBIN MAI SRA AI-GRS; TRUSTEE 1.00
Director
$0 $0 $0
BETSY K HUGHES SRA AI-RRS TRUSTEE 1.00
Director
$0 $0 $0
KELLY HYDE MAI TRUSTEE 1.00
Director
$0 $0 $0
KYLE W KRUEGER MAI AI-GRS TRUSTEE 1.00
Director
$0 $0 $0
RUSSELL STERLING MAI AI-GRS TRUSTEE 1.00
Director
$0 $0 $0
JEREMY KELLER SRA AI-RRS TRUSTEE 1.00
Director
$0 $0 $0
CHRISTINA MITAKIS SECRETARY 1.00
Officer
$0 $14,958 $190,684
BEATA SWACHA CPA CAE TREASURER (THROUGH Q1 2023) 1.00
Officer
$0 $28,451 $431,532
LAWRENCE WAN TREASURER (SINCE Q2 2023) 1.00
Officer
$0 $26,349 $189,775
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $266,196 $390,453 $7,725,512 $-124,257
2022 $489,116 $343,891 $6,811,349 $145,225
2021 $564,984 $292,516 $8,544,093 $272,468
2020 $412,492 $277,698 $7,620,437 $134,794
2019 $295,243 $290,309 $6,668,756 $4,934
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